Précis: The taxpayer claimed dividend refunds in 2011 and 2012 which were partially denied by CRA. The denial was based on the fact that the taxpayer would have been entitled to dividend refunds in 2007 and 2008 had it filed its tax returns on time, but the returns were in fact filed outside the three year limitation period established by subsection 129(1) of the Income Tax Act.
Nanica Holdings Limited v. R. – TCC: Dividend refunds need to be paid in order to erode a corporation’s RDTOH balanceREAD MORE »